National Bank Insurance

What National Bank Insurance does

National Bank Insurance is the branded insurance arm of National Bank of Canada, operating as an umbrella of four wholly-owned Quebec-based corporate entities: National Bank Life Insurance Company (life and health insurance for individuals and groups across Canada), National Bank General Insurance Inc. (damage insurance agency operating the National Bank Insurance Auto | Home brand), NBC Assistance Inc. (identity theft, concierge, and health care assistance), and National Bank Insurance Firm Inc. (insurance brokerage network). The product portfolio spans auto, home, life, travel, loan and credit card protection, and business insurance, distributed primarily to consumers in Quebec and Ontario.

The technology stack centers on the National Bank Insurance Auto | Home mobile application, which integrates the Drive Savvy usage-based insurance program (smartphone GPS, accelerometer, gyroscope analytics via Cambridge Mobile Telematics), Crash Assist collision detection with 911 connectivity, Severe Weather Alerts powered by ClimaCell (notifications within approximately 3 km of registered addresses), Digital Proof of Auto Insurance, and Securizone identity theft support. The Client Centre web portal handles policy management, claims submission, and payments. Underwriting for auto and home products is provided exclusively by Belair Insurance Company Inc. (part of Intact Financial Corporation), while life and health products are issued directly through National Bank Life Insurance Company.

The revenue model is recurring premium-based, drawing on distribution commissions and fees for P&C lines and direct premiums for life and health. Distribution leverages the parent bank's Quebec and Ontario branch network, supplemented by digital self-serve, licensed brokers via NBIF, phone sales, and an outbound solicitation partner (Voxcan). Pricing is risk-tiered, with online quote discounts of up to 12% on auto and 10% on home, a bundle discount of up to 15% on combined auto + home, National Bank customer discounts, and Drive Savvy's usage-based adjustment range of -40% to +80% at renewal. Headcount is described only as "hundreds of professionals, partners and employees."

Name

National Bank Insurance

Legal name

National Bank Life Insurance Company

Website

https://nbc-insurance.ca

Company type

Private

Operating status

Operating

Headcount range

101–250 employees

Short description

National Bank Insurance is the branded insurance arm of National Bank of Canada, distributing auto, home, life, travel, loan, credit card, and business insurance to consumers across Quebec and Ontario via bank branches, mobile app, licensed brokers, and digital channels.

Ownership category

akta.pro rank

Product category

Personal Insurance

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Direct Property and Casualty Insurance Carriers (524126), Direct Life, Health, and Medical Insurance Carriers (52411), Direct Health and Medical Insurance Carriers (524114)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331), Life Insurance (6311), Accident & Health Insurance (6321), Insurance Carriers, Nec (6399)

akta.pro primary industry

Standard Personal Auto Insurance (Liability, Collision & Comprehensive) (FSAJAAAA)

akta.pro secondary industries

Travel & Accident (Non-Life) Insurance (FSAJAMAN), Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident) (FSAIAEAD), Small Group Health Insurance (2–50/100) (FSAIAFAD), Embedded Insurance Distribution & Premium Financing (FSAGALAF)

Keywords

• Personal insurance products
• Auto and home insurance
• Life and health insurance
• Usage-based insurance
• Loan and credit insurance

Headquarters

HQ city

Anjou

HQ country

Canada

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Auto and Home Insurance Premiums: Recurring insurance premiums collected from policyholders for auto and home insurance coverage underwritten by Belair Insurance Company Inc.
2. Life and Health Insurance Premiums: Insurance premiums for term life insurance, critical illness protection, and health insurance products offered by National Bank Life Insurance Company across Canada.
3. Travel Insurance: Short-term travel insurance premiums for individuals traveling domestically or internationally.
4. Loan and Credit Card Insurance: Credit protection insurance covering mortgage, personal loans, lines of credit, auto loans, and credit card payments.
5. Business Insurance: Loan insurance and HR assistance solutions for business clients.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

National Bank Insurance distributes and sells personal and small-business insurance products under multiple brands through National Bank of Canada's banking channels. Core offerings include auto insurance, home insurance, life and health insurance, travel insurance, loan and credit card insurance, and business insurance, complemented by a mobile app with the Drive Savvy telematics-based insurance program, Digital Proof of Auto Insurance, and Crash Assist collision detection.

Product overview

National Bank Insurance is a multi-brand insurance group comprising four Quebec-based companies: National Bank Insurance Auto | Home (damage insurance agency distributing auto and home products underwritten by Belair Insurance Company Inc.), National Bank Life Insurance Company (individual and group life/health insurance across Canada), NBC Assistance Inc. (assistance services including identity theft, concierge, and health care), and National Bank Insurance Firm Inc. (brokerage network). The core product portfolio includes auto insurance (car, motorcycle, ATV, snowmobile, caravan, boat), home insurance (house, condo, tenant, income property, chalet), life and health insurance, travel insurance, loan and credit protection insurance, and business insurance. The digital ecosystem centers on the National Bank Insurance Auto | Home mobile app which provides policy management, claims submission, digital proof of insurance, the Drive Savvy usage-based insurance program (using smartphone sensors for personalized premiums), Crash Assist collision detection, and Severe Weather Alerts. Additional digital tools include the Client Centre online portal and Financial Calculator. Products are available to Quebec and Ontario residents.

Differentiator

Problem solved

Functional benefit

Brands

• Drive Savvy: Usage-based insurance program that rewards safe drivers using smartphone GPS, accelerometer, and gyroscope to measure driving habits and personalize car insurance premiums.
• Securizone

Products and services

• Auto Insurance Vehicle insurance coverage covering car, motorcycle, ATV, snowmobile, caravan, and boat, underwritten by Belair Insurance Company Inc. and available to Quebec and Ontario residents.
• Home Insurance Property insurance including house, condo, tenant, income property, and chalet coverage, plus water damage protection, underwritten by Belair Insurance Company Inc. for Quebec and Ontario residents.
• Life Insurance Life and health insurance products including term life insurance and critical illness protection offered by National Bank Life Insurance Company for individuals and groups across Canada.
• Travel Insurance Travel insurance coverage for trip cancellations, medical emergencies, and other travel-related risks for individuals traveling domestically or internationally.
• Loan and Credit Card Insurance Credit protection insurance covering mortgage, personal loans, lines of credit, auto loans, and credit card payments.
• Business Insurance Business coverage including loan insurance for businesses and HR Assistance Solutions for workforce management support, targeted at small and medium business owners in Quebec and Ontario.
• Drive Savvy Usage-Based Insurance Program Usage-based insurance program available through the National Bank Insurance Auto | Home mobile app that rewards safe drivers. Uses smartphone sensors to measure driving habits and personalize car insurance premiums at renewal, with potential discounts up to 40% or surcharges up to 80% and an average savings of $205 at renewal for 3 out of 4 users.
• National Bank Insurance Auto | Home Mobile App Mobile application for iOS and Android that allows policyholders to view auto and home insurance policies, access documents, submit claims, manage profile and payments, access digital proof of insurance, enroll in Drive Savvy, and receive severe weather alerts.
• Securizone Identity Theft Protection Identity theft assistance program offered through NBC Assistance Inc. providing tools and support services to help protect customer identity, included with life and travel insurance products.

Quantifiable outcome

• 3 out of 4 Drive Savvy users receive a discount at renewal, saving an average of $205
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

AI capability5 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core and supporting.

• Belair Insurance Company Inc.coreStrategic or Co-development PartnerBelair Insurance Company Inc. is the exclusive underwriter for all auto and home insurance products distributed by National Bank Insurance Auto | Home. Belairdirect is part of Intact Financial Corporation and provides the insurance products while National Bank Insurance distributes them through its banking channels.
• ClimaCellsupportingTechnology or IntegrationClimaCell provides the weather detection technology for the Severe Weather Alerts feature in the National Bank Insurance Auto | Home mobile app, detecting severe weather conditions within approximately 3km of registered addresses.
• VoxcansupportingChannel Partner/ Reseller/ DistributorVoxcan is a specialized business partner that conducts client solicitation on behalf of National Bank Insurance, contacting customers about targeted offers and product advisories using dedicated phone numbers.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• The Co-operators: Canadian multi-line insurer offering auto, home, life, and commercial insurance with strong distribution across Canada including Quebec — broader P&C incumbent competing in overlapping product categories.
• Canada Life (Great-West Lifeco): Major Canadian life and health insurer offering individual and group life insurance products across Canada; directly comparable life insurance carrier competing for the same critical illness and term life product category.
• Intact Financial Corporation: Canada's largest P&C insurer and parent of belairdirect (National Bank Insurance's underwriting partner); operates multiple brands across Canada and is the dominant P&C underwriter behind much of the bank-distributed insurance market.

Direct peers

• RBC Insurance: Insurance distribution subsidiary of Royal Bank of Canada; distributes auto, home, life, travel, and creditor insurance through bank branches and digital channels — direct comparable in bank-channel insurance distribution.
• CIBC Insurance: Insurance distribution arm of Canadian Imperial Bank of Commerce offering auto, home, life, and creditor insurance through bank branches — directly comparable bank-channel insurance model.
• belairdirect: Direct-to-consumer auto and home insurer owned by Intact Financial Corporation — also the underwriting partner for National Bank Insurance. Offers comparable products through digital channels in Quebec and Ontario, competing for the same end customer.
• TD Insurance: Bank-owned insurance distribution arm of TD Bank, one of Canada's largest banks; offers auto, home, life, and health insurance through branch and digital channels nationally — directly comparable bank-insurance distribution model.
• Desjardins Insurance: Cooperative-owned insurer with dominant presence in Quebec; offers auto, home, life, and health insurance through a member/caisse network — strong direct competitor in Quebec market with bank-channel-style distribution.
• BMO Insurance: Insurance arm of Bank of Montreal; offers life, health, creditor, and travel insurance distributed through BMO branches — directly comparable bank-owned insurance distribution model with similar multi-line product suite.

Emerging players

• Sonnet Insurance: Digital-first Canadian home and auto insurer (backed by Aviva); competes in the same Quebec and Ontario markets with a fully online quote-to-bind experience — emerging digital-native threat to traditional bank-distributed insurance.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/BanqueNationaleAssurances
• LinkedInlinkedin.com/company/assurances-banque-nationale

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Bank Insurance